New Unitus Labs Initiative Seeks to Accelerate Development of Innovative Startups Which Have the Potential to Significantly Benefit Families Living on Less Than $2 Per Day
Seattle, WA and Bangalore, India, February 6, 2012 — Unitus Labs, an international non-profit focused on reducing global poverty through economic self-empowerment, is launching today the Unitus Ventures (formerly Unitus Seed Fund), a new seed stage venture fund that invests in Indian startup businesses with potential for large-scale poverty impact. Unitus Ventures (formerly Unitus Seed Fund) is also announcing its first three investments in Indian startups Bodhicrew Services, Hippocampus Learning Centres, and Milaap Social Ventures.
“After a decade of helping accelerate and scale the Indian microfinance industry, we are excited to launch the new Unitus Ventures (formerly Unitus Seed Fund) initiative in order to support development of more new pro-poor businesses,” said Dave Richards, CEO of Unitus Labs and Managing Director of Unitus Ventures (formerly Unitus Seed Fund). “We are seeing a new group of highly capable and socially motivated entrepreneurs who believe that they can realize more wide-scale and sustainable poverty impact by operating as a business rather than as a non-profit. The Unitus family of entities has always been willing to invest on the cutting edge of economic empowerment concepts and projects.”
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